33 Tavern Street
Ipswich
Suffolk
IP1 3AG

Freehold Retail Investment

  • Let to Lush Retail Limited
  • Prime pedestrianised town centre location
  • Close proximity to Sailmakers Shopping Centre
  • Nearby occupiers include Jack Wills, Cotswold Outdoors and McDonald’s
  • Lot
    12
  • Auction
    14/Feb/2019
  • Rent
    £73,000 per Annum Exclusive
  • Status
    Sold Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Auction & Property Update
  • 33 Tavern Street<br>Ipswich<br>Suffolk<br>IP1 3AG
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* More information on the term "price" can be found here

Property Information

Location
Miles
19 miles north-east of Colchester
54 miles south-east of Cambridge
65 miles north-east of London
Roads
A12, A14
Rail
Ipswich Railway Station
Air
London Stansted Airport
Situation

Ipswich is the county town of Suffolk and is a major commercial centre in the east of England. The property is situated in the heart of Ipswich town centre on the northern side of the pedestrianised Tavern Street, Ipswich’s principal retailing pitch. The Sailmakers Shopping Centre is within close proximity and houses occupiers including Boots, Pandora and Topshop. Other nearby occupiers include EE, O2, Costa, McDonald’s, Santander, Jack Wills and Superdrug.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with ancillary accommodation on the first floor. The basement and second floor are currently not used by the tenant.

VAT

VAT is applicable to this lot.

EPC

Band C. See legal pack at acuitus.co.uk.

Tenancy & Accommodation

FloorUse
Floor Areas (Approx)
TenantTermRent p.a.xReversion
Ground
First
Second
Basement
Retail
Ancillary
-
-
78.22 sq m
59.64 sq m
Not measured
Not measured
(842 sq ft)
(642 sq ft)
LUSH RETAIL
LIMITED (1)
10 years from
14/11/2012
£73,00013/11/2022
Total
137.87 sq m
(1,484 sq ft)
  £73,000 

(1) For the year ending 30th June 2017, LUSH RETAIL LIMITED reported a turnover of £139,921,000, pre-tax profits of £12,866,000 and a total net worth of £23,255,000 (Source: Experian Group 15/01/2019). Lush operates 105 stores in the UK as well as further stores internationally (Source: uk.lush.com 16/01/2019).
(2) In 2016, by way of a deed of variation, the 2017 break option was removed, the rent was reduced from £80,000 p.a.x. to £73,000 p.a.x. and a cap of £80,000 p.a.x. was placed on future rent increases. For further information please refer to the legal pack.

Property Documents

  • Site Plan
    Updated Date
    22.01.19
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    554 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Seller's Solicitors
Peacock Law 94 High Street, Wimbledon village
London
SW19 5EG
Charles Hylton Potts 0208 035 0370Charles@peacock-law.co.uk

Useful Links

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